Odey fund falls to fraction of its former size

A former multi-billion euro fund managed by Crispin Odey has fallen to a fraction of its former size as investors redeem money on poor performance.

The Odey European fund now holds €184m compared to €2.5bn at the start of 2015, the Financial Times reports.

Total AUM at Odey Asset Management has fallend to $6bn from $11.7bn over the same period.

The European fund was launched in 1992, but it lost almost 50 per cent due to performance in 2016. This year it has lost investors a further 15 per cent.

The European fund has suffered the most significant losses, but other funds run by Odey have also suffered significant outflows and performance hits.

The $173m Odey Mac fund used to hold €1.2bn at the start of 2015, while the Odey Swan fund fell from €477m to €259m.

Odey Asset Management did not comment on the losses.